Investment
Investment policy and regulations
IFC sells stake in Cambodia's commercial bank to Japanese bank
The International Finance Corporation (IFC), a member of the World Bank Group, has sold its 12.25 percent stake in Acleda bank to Japan’s Sumitomo Mitsui Banking Corporation (SMBC) in an undisclosed amount after having supported Acleda for over 15 years, said an IFC news statement ...
Shanghai Daily News Staff
http://www.shanghaidaily.com/article/article_xinhua.aspx?id=235929
New chapter in search for black gold
As Chevron hands over its controlling stake in the Kingdom’s most developed oil field to a new player, industry experts say extraction may still take time Industry insiders urged patience this week after news broke that energy giant Chevron had sold its controlling stake in the ...
Daniel de Carteret
http://www.phnompenhpost.com/post-weekend/new-chapter-search-black-gold
6th Chinese-built hydropower dam in Cambodia starts operation
The sixth Chinese-built hydropower plant, located in the Koh Kong province of southwestern Cambodia, has begun producing electricity after more than four years of construction, the China National Heavy Machinery Corporation (CHMC) said in a statement on Thursday. CHMC started to develop the 246-megawatt Tatay River Hydropower Plant in 2010. The dam comprises three generators, each capable of producing 82 megawatts, the statement said. ...
People's Daily Online News Staff
http://english.peopledaily.com.cn/n/2014/0814/c90777-8769756.html
Roxy Casino made ‘modest profit’ since soft opening
Roxy Casino in Cambodia has made a “modest profit” since its soft opening on May 26, parent company Cell Aquaculture Ltd said in a filing to the Australian Securities Exchange. It did not provide figures. The profit was attributed to its sports betting activities during FIFA World Cup 2014 ...
GGRAsia News Staff
http://www.ggrasia.com/roxy-casino-made-modest-profit-since-soft-opening/
Chinese firm to open 1st duty free store in Cambodia
China Duty Free Group (CDFG) announced Monday that it has invested in a downtown duty free store in Cambodia’s cultural Siem Reap City and the store will be launched in December. “CDFG’s Cambodian subsidiary will firstly start its downtown duty free store of 4,500 square meters ...
Ecns.cn News Staff
http://www.ecns.cn/business/2014/08-12/129128.shtml
Singapore's KrisEnergy buys out Chevron in Cambodian oil block
Singapore-based upstream oil and gas firm KrisEnergy Ltd said on Monday it has agreed a $65 million deal to buy out Chevron Corp’s interest in an offshore oil block in Cambodia and take over as the block’s operator. KrisEnergy said in a statement it plans to ...
Rigzone News Staff
https://www.rigzone.com/news/oil_gas/a/134474/Singapores_KrisEnergy_Buys_Out_Chevron_In_Cambodian_Oil_Block
Embassy asked to intervene
Boeung Kak residents delivered a petition to the Singaporean Embassy yesterday, calling on it to pressure Singapore-listed HLH Group to halt dealings with a controversial development project at the site until a land row is settled. HLH Group entered a $14.9 million purchase deal in June ...
Chan Muyhong
http://www.phnompenhpost.com/business/embassy-asked-intervene
Croc release at dam site planned
A conservation group may release 20 baby Siamese crocodiles into the Areng Valley amid an ongoing stand-off between villagers and a Chinese firm over the construction of a controversial hydropower dam in Koh Kong province. Tuy Serey Vathana, country directory at Fauna and Flora International, said ...
Daniel Pye
http://www.phnompenhpost.com/national/croc-release-dam-site-planned
Thai bus firm to expand into Cambodia
Bus operator Nakhonchai Air plans to open three new services linking Thailand, Cambodia and Vietnam. Kruewan Wongrakmit, managing director of Nakhonchai Air Co, said she hoped to launch new services. ...
Amornrat Mahitthirook
http://www.bangkokpost.com/business/news/423422/nakhonchai-air-plans-expansion-into-cambodia
Maiden landing at beachside airport
Sihanouk Ville International Airport received its first international flight this week, a landing the industry hopes will open up the coastal resort destination to more foreign tourists. A flight by South Korea-based Skywings Asia Airlines, an international charter carrier, arrived from Seoul on Tuesday. One hundred ...
Post Staff
http://www.phnompenhpost.com/business/maiden-landing-beachside-airport
Bilateral investment treaties offer investment protection through arbitration
Bilateral Investment Treaties (BITs) are intra-state legal mechanisms which encourage foreign investment. This is particularly so as they provide foreign investors with Investor State Dispute Settlement (ISDS) mechanisms to enforce investment protections through international arbitration against the host state before a neutral tribunal. Cambodia has signed over ...
The Cambodia Herald News Staff
http://www.thecambodiaherald.com/cambodia/detail/1?page=15&token=YTQ5ZWI5NTZjN2F
ICT federation launched in Cambodia
The Information and Communications Technology (ICT) Federation was inaugurated here on Thursday with an aim to advance Cambodia to a digital age, officials said. Speaking at the launching ceremony, Kan Chanmeta, secretary of state of the Ministry of Post and Telecommunication, said the federation would be ...
Shanghai Daily News Staff
http://www.shanghaidaily.com/article/article_xinhua.aspx?id=231571
Cambodia is perfectly positioned to become a solar powerhouse
Phnom Penh’s first solar-powered building looks for all the world like a cube of colored Lego blocks dropped in a factory lot on the city’s industrial outskirts. Covered in some 1,350 solar panels — including large panes of multi-colored solar glass — the three-story building ...
Sarah Goodyear
http://nextcity.org/daily/entry/water-war-weapon-syria-cities
Apple to officially sell iPhones in Cambodia
Apple Inc. on Friday will officially launch the iPhone in Cambodia through its authorized reseller, iOne, giving customers—long used to gray market iPhones—access to Apple’s warranty. “The sales launch will be July 18. iOne, which has the monopoly right to import Apple’s products to Cambodia’s market ...
Hul Reaksmey and Joshua Wilwohl
http://www.cambodiadaily.com/business/apple-to-officially-sell-iphones-in-cambodia-64448/
Berjaya Food share rises after Cambodia unit formed
Berjaya Food Bhd’s share on Bursa Malaysia rose in early trade today following the announcement yesterday that it had incorporated a new subsidiary in Cambodia. As at 9.57am, the counter rose four sen or 2.45% to RM1.67, after opening at RM1.64, with 47,000 shares changing hands. ...
Free Malaysia Today News
http://www.freemalaysiatoday.com/category/business/2014/07/10/berjaya-food-share-rises-after-cambodia-unit-formed/
Sokha Hotel expected to open by september
The $100 million Sokha Hotel and Residence on Phnom Penh’s Chroy Changva peninsula will be ready to receive its first guest by September, and recruitment is under way for more than 1,000 employees, the hotel’s owner said Monday. “We plan to open in September as a ...
Joshua Wilwohl
http://www.cambodiadaily.com/business/sokha-hotel-expected-to-open-by-september-63481/
Will AEON mall succeed in one of the poorest countries in the world?
The presence of AEON Mall in Cambodia has stirred a lot of questions revolving around the future success of this Japanese giant mall. Since the official opening of the mall, thousands of people have flocked to visit this new mall. Not only people in general ...
The Cambodia Herald News Staff
http://www.thecambodiaherald.com/cambodia/detail/1?page=13&token=ZmMxZmI4MTA1Mjg
Direct flights to Japan coming
Asia Atlantic Airlines, a Thai airline owned in part by Japanese tourism firm HIS Co, will launch scheduled flights between Cambodia and Japan this September, according a statement published by the airline on June 26. As of September 2, Asia Atlantic will run three weekly flights ...
Annie Lee
http://www.phnompenhpost.com/business/direct-flights-japan-coming
Delay Sesan dam: villagers
Villagers who will be displaced if the controversial Lower Sesan II dam is built called on the developers yesterday to postpone construction for five years, allowing time for a comprehensive resettlement scheme to be devised. But a government official dismissed their request as “beyond the pale”, ...
Phak Seangly and Daniel Pye
http://www.phnompenhpost.com/national/delay-sesan-dam-villagers
Acacia chip exports to receive tax break: PM
The tax imposed on the export of acacia chips is to be abolished to help boost exports of the locally grown raw product, Prime Minister Hun Sen announced on Monday. Speaking at the grand opening of Aeon Mall, Hun Sen said that acacia chips exported to ...
Chan Muyhong
http://www.phnompenhpost.com/business/acacia-chip-exports-receive-tax-break-pm
Angkor Gold confirms $10m partnership deal
Cambodian firm Angkor Gold Corp (ANK) on Thursday finalised a partnership agreement with Hong Kong firm Tohui Beishan Property Group Holding Limited (TG) worth more than $10.4 million. According to a company statement issued on the Toronto Stock Exchange, ANK granted the Hong Kong firm 7.9 ...
Eddie Morton
http://www.phnompenhpost.com/business/angkor-gold-confirms-10m-partnership-deal
Local IT firm eyes off-shore expansion
Information technology firm First Cambodia on Friday joined forces with little-known Singaporean investment company GlobalVision, in a move that aims to expand the local company’s international footprint. As part of the joint partnership, GlobalVision has purchased a 50 per cent stake in First Cambodia for an ...
Chan Muyhong
http://www.phnompenhpost.com/business/local-it-firm-eyes-shore-expansion
Japanese chain to open hotel in 2015
Budget business hotel group Toyoko Inn hope to draw East Asian businesspeople and travellers to Phnom Penh The Toyoko Inn, which is a joint venture between the Overseas Cambodia Investment Corporation (OCIC) and a Japanese budget, business hotel chain, is slated to open in May 2015. ...
Siv Meng
http://www.phnompenhpost.com/post-weekend/japanese-chain-open-hotel-2015
US firm to build border market in Takeo
Realco Cambodia Ltd., a U.S.-owned company, plans to invest $7 million to build a market at the Phnom Din checkpoint on the border with Vietnam in Takeo province’s Kirivong district, a senior official at the Takeo, Kampot and Kep Provincial Chamber of Commerce said Friday. Realco ...
Kang Sothear
http://www.cambodiadaily.com/business/us-firm-to-build-border-market-in-takeo-62693/